January 21, 2021· 52 min

The Important Lesson a Quant Manager Learned in 2020

Orality
Model
88%
Highly oral (epic poetry, sermons, hip-hop)

Speaker Breakdown

HostTracy Alloway(2,196 words)
M:28%
HostJoe Weisenthal(1,494 words)
M:28%
GuestCorey Hoffstein(4,898 words)
M:26%

Oral Indicators

Agonistic45%
huge, incredible, basically
Engagement73%
you, our, your
Memory Aids100%
listen, so, right
Repetition100%
think (92x), market (64x), sort (60x)
Parallelism94%
So have you heard the story ab..., And I'm Tracy Alloway...., So, Tracy, it goes without say...
Sound Patterns51%
47 question(s), alliteration: "markets move", alliteration: "barclays brief"
Formulaic Phrases7%
at the end of the day, i mean, to be honest

Literate Indicators

Hedging7%
quite, could, probably
Passive Voice9%
been expected, be unexpected, be harvested
Abstract Nouns22%
investment, prescription, medication
Subordination8%
while, because, therefore
Sentence Length53%
Avg: 18.2 words/sentence
Word Complexity50%
investment, analyze, anticipate
Academic Markers3%
according to
Impersonal Style27%
672 personal pronouns found
Descriptive Style100%
automatically, family, really

Description

It goes without saying that 2020 was a year like no other when it comes to the markets. A historic crash, and then a raging recovery, all set against the backdrop of a pandemic and deeply depressed economy. One implication of this is that trading strategies based on historic rules and patterns didn't perform particularly well in this environment. On this episode, we speak with Corey Hoffstein, a fund manager at Newfound Research, which employs trend following and momentum signals in its trading. He talks about what worked and didn't last year and what that says about overall market structure. See omnystudio.com/listener for privacy information.